This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables efficient formation of carbon-carbon bonds, making it valuable for creating diverse chemical structures. Additionally, it is employed in material science for designing advanced organic materials with specific electronic or optical properties. Its versatility and reactivity make it a crucial tool in modern synthetic chemistry.